Questions: Capitalism is an economic system characterized by which of the following features? It is a market based system based primarily on collective ownership of the means of production It is a system of distribution in which property is held communally and distributed by a central government or chief. It is a market-based system of exchanging and distributing resources in which the means of production are privately owned and operated for private profit It is a system of reciprocal exchange in which resources are held communally

The answer is: It is a market-based system of exchanging and distributing resources in which the means of production are privately owned and operated for private profit.

Explanation for each option:

1. "It is a market based system based primarily on collective ownership of the means of production" - This description aligns more closely with socialism, where the means of production are collectively owned, rather than capitalism.

2. "It is a system of distribution in which property is held communally and distributed by a central government or chief" - This describes a command economy or communism, where resources are distributed by a central authority.

3. "It is a market-based system of exchanging and distributing resources in which the means of production are privately owned and operated for private profit" - This is the correct description of capitalism. In capitalism, private individuals or businesses own the means of production and operate them for profit within a market economy.

4. "It is a system of reciprocal exchange in which resources are held communally" - This does not accurately describe capitalism. It suggests a communal ownership model, which is more characteristic of socialism or communism.